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Alborosie
3 years ago
13

The following transactions occurred during 2014. Assume that depreciation of 10% per year is charged on all machinery and 5% per

year on buildings, on a straight-line basis, with no estimated salvage value. Depreciation is charged for a full year on all fixed assets acquired during the year, and no depreciation is charged on fixed assets disposed of during the year. Jan. 30 A building that cost $132,000 in 1997 is torn down to make room for a new building. The wrecking contractor was paid $5,100 and was permitted to keep all materials salvaged. Mar. 10 Machinery that was purchased in 2007 for $16,000 is sold for $2,900 cash, f.o.b. purchaser's plant. Freight of $300 is paid on the sale of this machinery. Mar. 20 A gear breaks on a machine that cost $9,000 in 2009. The gear is replaced at a cost of $2,000. The replacement does not extend the useful life of the machine but does make the machine more efficient May 18 A special base installed for a machine in 2008 when the machine was purchased has to be replaced at a cost of $5,500 because of defective workmanship on the original base. The cost of the machinery was $14,200 in 2008. The cost of the base was $3,500, and this amount was charged to the Machinery account in 2008. June 23 One of the buildings is repainted at a cost of $6,900. It had not been painted since it was constructed in 2010. Instructions Round to the nearest dollar.) Prepare general journal entries for the transactions.
Business
1 answer:
serg [7]3 years ago
4 0

Answer:

Here are your general entries:)

Profit and loss account $19,800

Accumulated depreciation $112,200

To Building                          $132,000

( Building torn down recorded)

Building torn down expense $5,100

To cash                                   $5,100

(paid to contractor)

Cash $2,100

Accumulated depreciation $11,200

Profit and loss account $1,900

  To machinery           $16,000

(disposal of machine recorded)

Freight expense $300

To cash   $300

(freight paid recorded)

Repairs of machinery $2,000

To cash $2,000

(New gear brake added to machinery)

Profit and loss account $1,400

Accumulated depreciation $2,100

To old base    $3,500

(old base expensed out)

Machinery account $5,500

To cash   $5,500

(New base constructed)

Depreciation of base $550

To accumulated depreciation $550

Paint of building expense $6,900

To cash      $6,900

Explanation:

Addition of gear brake not added to cost of machinery because it does not extend the useful life of machine.

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The answer to this question is the "triple bottom line". <span>The approach known as the TRIPLE BOTTOM LINE assesses organizational performance according to three factors: economic, social and environmental performance. This can be also noted as TBL or 3BL and it has three main parts which are social, financial and ecological. Many organizations or companies use this to evaluate this performance.</span>
4 0
3 years ago
Alternative A has a rate of return of 14% and Alternative B has a rate of return of 17%. If the investment required in B is larg
charle [14.2K]

Answer:

The answer is "larger than 17%".

Explanation:

Assume the sum of investment as B is more than A:

In part A:  

                                                                        A                    B           Increment

Purchase(assumed)                                          100              150                   50  

Departure Rate                                                   14%              17%                

Return                                                                 14                25.5               11.5      

The rate of return increases( \frac{11.5}{50} \times 100)                                                       23      

In part B:  

                                                                         A                    B           Increment

Purchase(assumed)                                          100              120                   20  

Departure Rate                                                  14%              17%                

Return                                                                 14                20.4               6.4      

The rate of return increases( \frac{6.4}{20} \times 100)                                                        32      

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3 years ago
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<u>Solution:</u>

1. Two men and a truck have an advantage of making their workers comply with the Grandma Law, which demonstrates respect and compassion for their clients. It welcomed new buyers, retained the faithfulness of current customers and made the company's own identity distinctive. The freedom of Two People and a Truck was another plus.

Two men and a truck were using the unsegmented approach to the market that many small companies have to or plan to do. This was based in its business or division on any consumer.

The marketing technique used was the conventional and modern internet and social media marketing method, PR&D and the news media.

2.  A) a lack of venture value: because they were a very small enterprise that used to carry their operations out, most customers had lost confidence or a value in their funding, believing their concept of selling franchises was not a successful one.

b) Failure to have sufficient funding: Originally, as this business started to expand rapidly, it emerged as a money-making workplace; a big concern was the shortage of investment resources.

Suggestions for addressing this were: using alternate funding strategies such as retained profits, bank loans, and so on.

3.  Two men and a truck should sell concessions outside North America. That is a smart idea. It is because since developing the organization, it is clear that it knows its strong fields, which it will use to develop a stable presence on the world market, with some 300 franchises in North America. Furthermore, this packaging and shipping company's business model is something essential and recognizable in the world.

Global franchises are more likely to question the organization if it is willing to adapt or deviate its strategies in order to suit the consumer market in a different country with a particular philosophy from the North American community, its corporate social management programs, its goals and its organizational ethics.

8 0
3 years ago
An employee insured under a group health plan has been paying $25 monthly premium for his group health coverage. The employer ha
horrorfan [7]

Answer:

$102

Explanation:

Calculation to determine would be his maximum monthly premium for COBRA coverage

Based on the information given The employer will have to obtain a PREMIUM from the employee that was TERMINATED at a rate that is NOT HIGHER THAN 102% of the individual's GROUP PREMIUM RATE.

Hence;

Maximum monthly premium for COBRA coverage= 102% * $100

Maximum monthly premium for COBRA coverage=$102

Therefore would be his maximum monthly premium for COBRA coverage is $102

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3 years ago
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Answer:

c.export zinc, since that country has a comparative advantage in zinc.

Explanation:

In the case when the zinc world price is more than the domestic zinc price without trade so the country should export the zinc as the company would have the comparative advantage. Here high price menas the international demand is more than the domestic demand due to which the country could earn more profits

4 0
3 years ago
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